"ECB Holds Rates Amid Inflation and Growth Forecast Cuts"
TL;DR Summary
The European Central Bank held interest rates steady and reduced its inflation and growth forecasts, with projections showing a lower economic growth of 0.6% in 2024 and a decrease in inflation to an average of 2.3%. Market expectations for rate cuts have increased, with the euro trading lower against the British pound. The ECB forecasts a GDP expansion of 1.5% in 2025 and 1.6% in 2026, while Germany has slashed its growth forecast for 2024 to 0.2%. The ECB's key rate remains at 4%, and market participants are looking to the June meeting for potential rate cuts.
Topics:business#euro-zone#european-central-bank#financeeconomy#growth-forecast#inflation-forecast#interest-rates
- European Central Bank holds interest rates, cuts inflation and growth forecasts CNBC
- ECB Interest Rates Held as Weaker Inflation Raises Prospect of Cuts Bloomberg
- Monetary policy decisions European Central Bank
- ECB takes small step towards rate cut as inflation falls Reuters
- ECB Expected to Hold Rates. Like the Fed, a June Cut Is Possible. Barron's
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